CryoCor (CRYO) had revenue of $540,000 last year, and a loss of over $15 million. It did not do much better in 2004 or 2005. But, as of this morning, the company sports a market cap of $81 million.
Nice work, if you can find it.
CryoCor’s shares are up on a deal with Boston Scientific (BSX). The two companies "are collaborating on the development of cryoablation, or extreme cold, to treat irregular heartbeat, or, cardiac arrhythmias," according to The Associated Press. Of course, the company’s quote the largest possible numbers to show the potential of the project: "About 6 million patients have the affliction worldwide, and $9 billion is spent annually in the U.S. to treat it, the companies estimated."
Of course, the device has not gone on the market yet, but CryoCor’s shares have gone from $2.50 to $6.65 in two days.
Nice work, if you can find it.
Douglas A. McIntyre can be reached at [email protected]
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